It's real, kind of. £90 a week is the minimum allowed in a contract (not sure if this is by FA or UK employment laws), so it's basically the equivalent of offering £0. Except unsurprisingly the headline is misleading as the deal would obviously include 99 clauses about appearances etc, so he would not take home £90 a week. There was a similar story with Blackpool and Bojan Djordjic (link), later confirmed to be untrue as he earned about £190,000 a year.
I'm sure our youth players are on the same, if not more It's defintely real, and as someone said, they tried it with Fowler a year or two ago